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Mereo BioPharma bid for OncoMed Pharmaceuticals gains more support

Source: SMW

Mereo BioPharma Group said its proposed acquisition of OncoMed Pharmaceuticals had now received backing from 21.1% of the target's shareholders.

OncoMed said it had received support for the deal from Biotechnology Value Fund, Biotechnology Value Fund II, MSI BVF SPV and Biotechnology Value Trading Fund OS L.P. which represented about 10.45% of OncoMed's shares.

The backing adds to support announced by other investors in December.

Mereo BioPharma said it continued to make good progress towards closing the deal, which expects to occur in the second quarter of 2019.

At 1:40pm: (LON:MPH) Mereo Biopharma Group Ltd share price was 0p at 167.5p